§ Tax Center
BOCA RATON · UPDATED MAY 2026
Record Retention Guide
The IRS can examine most returns for three years after filing — but that window extends in several situations. Our general advice: keep tax returns forever, keep supporting records for seven years, and keep some documents (home purchase, investments, major repairs) as long as you own the asset.
Tax records
Tax records support numbers on your return — if the IRS questions a deduction or income item, you need the backup.
| Document type | How long |
|---|---|
| Tax returns (federal & state) | Forever |
| W-2s, 1099s, 1098s | 7 years |
| Receipts for deductible expenses | 7 years |
| Charitable contribution records | 7 years |
| Records of stock / mutual fund purchases | Until 7 years after sold |
| Records of home purchase + improvements | Until 7 years after home sold |
| IRA contribution statements (Form 8606) | Until withdrawn completely |
| Records supporting bad-debt deduction | 7 years |
| Records supporting worthless securities | 7 years |
Business records
Separate from tax support, business records serve operational + legal purposes.
| Document type | How long |
|---|---|
| Articles of incorporation / organization | Forever |
| Corporate minutes + bylaws | Forever |
| Annual reports | Forever |
| Property records (real estate + equipment) | Until 7 years after disposal |
| Accounts payable / receivable ledgers | 7 years |
| Bank statements + canceled checks | 7 years |
| Expense reports + receipts | 7 years |
| Payroll records + timecards | 7 years |
| Retirement plan documents | Forever |
| Employee contracts | 7 years after termination |
Personal financial records
Outside the tax context, there's still a retention cadence worth following.
| Document type | How long |
|---|---|
| Birth / marriage / death certificates | Forever |
| Social Security card | Forever |
| Passport | Until expired + 1 year |
| Property deeds + titles | Until sold + 7 years |
| Mortgage documents | Until paid off + 7 years |
| Insurance policies | Duration of policy + 7 years |
| Medical records | At least 7 years |
| Credit card statements | 1 year (or 7 if tax-relevant) |
Other resources
Ready to talk?
A 30-minute scoping call costs nothing.
Free 30-minute call to confirm fit. If we are the right firm for the work, we send a written scope and a flat fee. If we are not, we point you elsewhere.